On March 29, 2022, the Minister of Environment and Climate Change, supported by Prime Minister Justin Trudeau, tabled Canada's new 2030 Emissions Reduction Plan (the "Plan")...
On March 29, 2022, the Minister of Environment and
Climate Change, supported by Prime Minister Justin Trudeau, tabled
Canada's new
2030 Emissions Reduction Plan (the
"Plan"). The Plan describes the existing and new measures
that seek to ensure that Canada reaches its emissions reduction
target of 40 to 45 percent below 2005 levels by 2030 and sets
Canada on a path to achieving net-zero emissions by 2050. The Plan
is the first emissions reduction plan issued under
the
Canadian Net-Zero Emissions Accountability
Act (the "Act"), which
came into force on June 29, 2021. While the government of Canada
recognizes that the Plan is a living document and will evolve in
the coming years, it is evident that the government of Canada is
contemplating an increase in climate related regulation which could
have material implications on doing business in all sectors of the
Canadian economy. As climate regulation in Canada becomes more
stringent, the effects will be felt across a
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